Basic net income (loss) and diluted net loss per share attributable to common stockholders was computed by dividing net loss by the weighted-average common shares outstanding for the period (in thousands, except share and per share data). Diluted net income per share attributable to common stockholders was computed by dividing net income by the weighted-average common shares outstanding and potentially dilutive shares for the period (in thousands, except share and per share data):


	THREE MONTHS ENDED JUNE 30,						SIX MONTHS ENDED JUNE 30,
Numerator:	2026			2025			2026			2025
Net income (loss)	$	(38,905	)	$	(4,796	)	$	(47,766	)	$	2,583
Denominator:
Weighted-average shares of common stock outstanding, basic		74,131,229			51,489,929			68,279,075			50,988,887
Net income (loss) per share, basic	$	(0.52	)	$	(0.09	)	$	(0.70	)	$	0.05
Add potentially dilutive shares:
Dilutive effect of outstanding stock options (as converted to common stock)		—			—			—			2,253,771
Dilutive effect of outstanding warrants for common stock		—			—			—			126,924
Weighted-average shares of common stock outstanding, diluted		74,131,229			51,489,929			68,279,075			53,369,582
Net income (loss) per share, diluted	$	(0.52	)	$	(0.09	)	$	(0.70	)	$	0.05

The Company’s potentially dilutive securities have been excluded from the computation of dilutive net loss per share for the three and six months ended June 30, 2026 and the three months ended June 30, 2025, as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of shares of common stock outstanding used to calculate both basic and diluted net loss per share is the same.

The Company excluded the following potential shares of common stock from the computation of diluted net loss per share because including them would have had an anti-dilutive effect.


	AS OF JUNE 30,
	2026		2025
Outstanding warrants for common stock		7,762,350		7,507,708
Outstanding stock options (as converted to common stock)		8,790,473		6,135,068
Unvested performance stock units		295,482		—
		16,848,305		13,642,776